VPF - Limits of Contribution in FY 2014-15

As per the previous norm, upto 100% of Basic Salary could be contributed as a VPF ( Voluntary Provident Fund ) by an employee. I have following queries on the subject :

1. Is this limit revised in FY 2014-15, if so to what extent is the new limit.
2. What is the Income Tax Impact of contributions in VPF ? Are final corpus and interests earned during contribution periods 100% tax exempt ?